Special Tender Offer

ADLER REAL ESTATE AKTIENGESELLSCHAFT

Voluntary public tender offer of Adler Real Estate AG to all shareholders of Brack Capital Properties N.V.

You have entered the website which Adler Real Estate AG has designated for the publication of documents and information in connection with its voluntary public tender offer to all shareholders of Brack Capital Properties N.V.

In order to access further information in connection with the takeover offer, visitors of this website are requested to confirm, at the bottom of this page, notice of the following legal information.

Important Legal Information

Adler Real Estate AG (the Bidder) has announced on 16 February 2018 its intention to make an offer to all shareholders of Brack Capital Properties N.V. to acquire shares in Brack Capital Properties N.V. (Special Tender Offer) pursuant to the Israeli Companies Law and the Israeli Securities Regulations (Tender Offers).

The Special Tender Offer is being made exclusively on the basis of the offer document, which was prepared pursuant to the provisions of the Israeli Companies Law and the Israeli Securities Regulations (Tender Offers) and published on 19 February 2018. The offer document did not receive the approval of the Israeli Securities Authority and should not be viewed as a prospectus under the Israeli Securities Law. Investors in, and holders of, Brack Capital Properties N.V. shares are strongly recommended to review the offer document and all other documents related to the Special Tender Offer, as they will contain important information.

The Special Tender Offer relates to shares in a Dutch company which are listed at the Tel Aviv Stock Exchange, Israel. In accordance with Israeli Companies Law and the Israeli Securities Regulations (Tender Offers), the Special Tender Offer to acquire an interest is conducted solely on the basis of the applicable provisions of the Israeli law, in particular the Israeli Companies Law and the Israeli Securities Regulations (Tender Offers). The Special Tender Offer is not made or intended to be made pursuant to the laws of any jurisdiction other than those of Israel. With regard to the Special Tender Offer, the Bidder, its shareholders, its officers, agents and any person acting on its or their behalf, do not assume any responsibility for compliance with laws other than the laws of Israel. Notifications and the publication of information on the Special Tender Offer are intended to be in Israel only, unless a notification or other publication is required or permitted under the respective laws of other jurisdictions.

The Special Tender Offer has not been, and will not be, filed, published or publicly advertised pursuant to the laws of any jurisdiction other than Israel to the extent that this would be impermissible under applicable national regulations. Neither the Bidder, nor any person acting in concert with the Bidder, nor any of its or their subsidiaries will conduct or otherwise facilitate the public marketing of the Special Tender Offer outside of Israel, unless this would be permissible under the respective laws of such other jurisdictions.

The Bidder, its shareholders, its officers, agents and any person acting on its or their behalf do not assume any responsibility for the publication, dispatch, distribution or dissemination of any documents connected with the Special Takeover Offer outside of Israel being compatible with the applicable requirements of jurisdictions other than those of Israel. Furthermore, the Bidder, its shareholders, its officers, agents and any person acting on its or their behalf do not assume any responsibility for the non-compliance of third parties with any laws.

The announcements made on this website do not constitute an invitation to make an offer to sell shares in Brack Capital Properties N.V. With the exception of the offer document prepared pursuant to the provisions of the Israeli Companies Law and the Israeli Securities Regulations (Tender Offers), announcements made on this website also do not constitute an offer to purchase shares in Brack Capital Properties N.V.

To the extent permissible under applicable law or regulation, the Bidder or its brokers may purchase, or conclude agreements to purchase, shares in Brack Capital Properties N.V., directly or indirectly, outside of the scope of the Special Tender Offer, after the date the Special Tender Offer is concluded or terminated, as the case may be. These purchases may be completed via the stock exchange at market prices or outside the stock exchange at negotiated conditions. Any information on such purchases will be disclosed as required by law or regulation in Israel.

If any announcements on this website contain forward-looking statements (including as such term is defined in the Israeli Securities Law), such statements do not represent facts and are characterised by the words “will”, “expect”, “believe”, “estimate”, “intend”, “aim”, “assume” or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of the Bidder and the persons acting in concert with the Bidder, for example with regard to the potential consequences of the Special Tender Offer for Brack Capital Properties N.V., for those shareholders of Brack Capital Properties N.V. who choose not to accept the Special Tender Offer or for future financial results of Brack Capital Properties N.V. and/or Adler Real Estate AG. Such forward-looking statements are based on current plans, estimates and forecasts which the Bidder and the persons acting in concert with the Bidder have made to the best of their knowledge, but which do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by the Bidder or the persons acting in concert with the Bidder. It should be kept in mind that the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements including as a result of reasons or occurrences which are beyond the control of the Bidder.

It is possible that the Bidder will change its intentions and assumptions reflected in the documents and announcements on this website or in the offer document after the publication of these documents, announcements or the offer document, this in particular with regard to Brack Capital Properties N.V.

By selecting the “I confirm” button, you warrant that you have read and understood the legal notice above.

If you have any questions, please contact Investors Relations at Adler Real Estate AG, [Contact].

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